Crowdfunding Success in 5 Easy Steps

Crowdfunding isn't easy. Some projects fail because there isn't a place in the market. Other campaigns fail because they aren't far enough along in product development to convince people to jump onboard. And some fail simply because they don't have enough planning or strategy in place before they launch.

When Canary launched our Indiegogo campaign we set a goal of $100,000. We met that threshold before lunchtime on the first day and by the time our campaign ended 34 days later on August 26 this year we had raised over $1.9 million and became the most successfully funded campaign in Indiegogo history.

Here are our top 5 recommendations for crowdfunding success:

1. Clearly define your product and your goals :Many people have amazing ideas but go into crowdfunding platform without fully defining their goals ahead of time. Are you building a single product, a group of products, a company, or is this just a fun side project? You will be in a better position to open up and present yourself to "the crowd" if you know and can articulate your goals. Spend the time to develop your brand or craft your bio prior to launch so you're not scrambling to figure it out when you open yourself up to the eyes of the internet.

2. Tell a story about what you can do for others :People care much more about themselves than they do about your idea. This means that simply telling people about the amazing product you're building won't lead to a successful campaign. You need to create a story around your product. This story should weave itself through your video, your project description, your images, your updates -- everything. Your focus needs to be on how your product can fit into someone's life in a meaningful way. Resist the tendency to lead with tech specs and feature lists. Make it about people, not about you or your product.